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Garland Law Offices, P.A.
Recent Activity
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“The children of a dead former American Airlines executive have said they do not want an $8 billion punitive damage award from a bank for mismanaging their inheritance.” Max Hopper, a former SVP at American Airlines and IT expert who created the airlines' seat reservation system, died unexpectedly in 2010.... Continue reading
Posted 11 hours ago at Garland Law Offices, P.A.
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“Picking a trustee gets less attention than choosing your new smartphone.” It may be crunch time when you and/or your spouse are at your estate planning attorney’s office. After all, you’re planning for what happens when you die. For most people, it’s a process filled with emotions and what-ifs. You... Continue reading
Posted yesterday at Garland Law Offices, P.A.
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“Shooter Stephen Paddock was an avid gambler and left behind an estate worth an estimated $5 million. However, he didn't leave behind instructions on what he wanted to be done with his money, properties or belongings after he died.” The gunman behind the deadliest mass shooting in modern U.S. history... Continue reading
Posted 2 days ago at Garland Law Offices, P.A.
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“Well-crafted, regularly-updated estate planning documents are important for everyone, regardless of the size of your estate or assets.” cincinnati.com’s recent article, “Now is the time to consider the basics of estate planning,” says that estate planning is important because the more clarity a plan provides, the easier time your family... Continue reading
Posted 3 days ago at Garland Law Offices, P.A.
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“In addition to the legal details, adults helping elderly parents downsize, must also help decide what to do with all of their possessions, furniture and stuff.” Adult children may one day need to provide care for their aging parents. This may include helping them downsize their home and assist with... Continue reading
Posted 4 days ago at Garland Law Offices, P.A.
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“Annuities are a worthy option for savers looking to add an element of protection to their retirement strategy. The key: Work with an independent adviser and understand WHY each product is being recommended.” Kiplinger’s recent article, “4 Questions to Ask Before Adding an Annuity to Your Retirement Plan,” reports that... Continue reading
Posted 7 days ago at Garland Law Offices, P.A.
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“When John Criss died in 2015 he bequeathed $5.7 million to his hometown Sac City, but with a stipulation: all of the money must be spent on the beautification of the town.” Iowan John Criss was a lifelong bachelor who lived with his parents and never left the small town... Continue reading
Posted Dec 7, 2017 at Garland Law Offices, P.A.
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“Most people seek out estate planning advice after major life events like marriage, childbirth and loss of a loved one...or increasing Bitcoin prices.” The number of people seeking estate planning services has soared with Bitcoin’s prices continuing to rise. However, digital currencies don’t have to comprise most of your net... Continue reading
Posted Dec 6, 2017 at Garland Law Offices, P.A.
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“It's the biggest boost since 2012—but not nearly enough to keep up with rising costs.” AARP’s recent article, “Social Security Payments to Increase 2 Percent Next Year,” reports that Social Security recipients will receive a 2% cost-of-living adjustment (COLA) in 2018. That’s the biggest increase since 2012. This bump, however,... Continue reading
Posted Dec 5, 2017 at Garland Law Offices, P.A.
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“Chances are you spotted some cute little skeletons dressed up for Halloween that didn’t give you too much of a fright on Tuesday. But, there may be some others that should be cause for a great scare.” The Kansas City Star says in its recent article, “Financial skeletons to clean... Continue reading
Posted Dec 4, 2017 at Garland Law Offices, P.A.
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“Helen DeVos, the wife of Orlando Magic owner and Amway co-founder Rich DeVos, was known for her philanthropic efforts to the arts and passion for Christian education. However, her first love was her family, those who knew her said.” The Orlando Sentinel noted in its article, “Helen DeVos, wife of... Continue reading
Posted Dec 1, 2017 at Garland Law Offices, P.A.
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“More than 41 million Americans provide regular care for an older adult, usually a relative, according to the Bureau of Labor Statistics. Of those, more than 15 million provide care for someone with Alzheimer’s or another type of dementia, according to the Alzheimer’s Association.” That group of 15 million Americans... Continue reading
Posted Nov 30, 2017 at Garland Law Offices, P.A.
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“Tucked into the GOP tax bill released on Thursday is a proposal that would hurt older adults, the sick and disabled, as well as the family members who help pay for their care.” House Republicans have proposed the elimination of the medical tax deduction. That provision lets people write off... Continue reading
Posted Nov 29, 2017 at Garland Law Offices, P.A.
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“The federal estate and gift tax exemptions rise with inflation…” The federal government recently announced that for 2018 the estate and gift tax exemption is $5.6 million per individual. That’s an increase from $5.49 million in 2017. As a result, a person can leave $5.6 million to his or her... Continue reading
Posted Nov 28, 2017 at Garland Law Offices, P.A.
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“Give yourself and your loved ones a special gift by having a life care planning conversation, which Ellen Goodman, co-founder of The Conversation Project, calls ‘estate planning for the heart.’” Even though we know it’s beneficial, few of us have been willing to have a life care planning conversation, says... Continue reading
Posted Nov 27, 2017 at Garland Law Offices, P.A.
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“A will that meets all of the requirements of Kansas law is good, until it is changed or revoked by the maker.” A will is a legal document that provides instructions regarding how your property is to be distributed after your death. To be valid in the State of Kansas,... Continue reading
Posted Nov 24, 2017 at Garland Law Offices, P.A.
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“As an older parent, the 68-year-old crooner has unique estate and financial planning needs.” Singer Billy Joel and his fourth wife just had his third child. Those who become parents later in life need to adjust how they divide their assets and their anticipated retirement lifestyle. The 68-year-old Joel is... Continue reading
Posted Nov 23, 2017 at Garland Law Offices, P.A.
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“If you gift more than $14,000 a year, understand the consequences.” If you want to give your child a gift of $14,000, but it’s a gift of stock and when it’s transferred, you learn that it’s valued at more than $14,000? What are the gift tax ramifications? There are two... Continue reading
Posted Nov 22, 2017 at Garland Law Offices, P.A.
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“Making proper end-of-life care provisions involves stipulating what you would want through an advance directive and anticipating potential conflicts.” Tom Petty was reportedly taken off life support following the orders he had previously drafted expressing his wishes. However, most people don’t make provisions for their end-of-life care. As a result,... Continue reading
Posted Nov 21, 2017 at Garland Law Offices, P.A.
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“People who work with the elderly population in Erie County are getting a new tool to help protect their clients.” Dozens of providers and advocates recently spent a day learning how to use the new Legal Risk Detector App. WIVB recently posted an article, “New App Aims to Prevent Elder... Continue reading
Posted Nov 20, 2017 at Garland Law Offices, P.A.
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“To ensure they would remain like a family after he passed away, 41-year-old Chester made provisions in his will…” Linkin Park frontman Chester Bennington, who committed suicide in July, is survived by six children from three relationships—21-year-old son Jaime and adopted son Isaiah, 19, with Elka Brand; 15-year-old son Draven... Continue reading
Posted Nov 17, 2017 at Garland Law Offices, P.A.
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“According to Personal Capital, 70% say they favor saving for their kid’s college over saving for retirement, a strategy advisors usually oppose.” The idealism of the millennial generation is readily apparent in Personal Capital’s latest survey of affluent families. The online survey of about 1,000 affluent investors, 18 or older... Continue reading
Posted Nov 16, 2017 at Garland Law Offices, P.A.
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“If you want to avoid family fights over your estate, take a long hard look at your closet.” Personal property is something people often forget about when drawing up wills and other estate planning documents. Not surprisingly, the biggest point of conflict among families isn’t the million-dollar horse property, it's... Continue reading
Posted Nov 15, 2017 at Garland Law Offices, P.A.
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“Federal employees have a lot to gain (how's $10,000 more per year in retirement sound?), by sticking it out until age 66.” Many folks eagerly anticipate retirement, with some preparing for the magical age of 62—the earliest age you can draw Social Security. For these people, the notion of working... Continue reading
Posted Nov 14, 2017 at Garland Law Offices, P.A.
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“We now have some turmoil because two of my daughters do not want the farm passed on to my grandson. They have told me they would never sell the farm, so apparently now they want ownership, and it’s hard to figure out a solution.” A farm that’s been around for... Continue reading
Posted Nov 13, 2017 at Garland Law Offices, P.A.